HSBC hires Silicon Valley Bank bankers to focus on tech, healthcare

NEW YORK (Reuters) - HSBC Holdings plc's U.S. unit has hired dozens of Silicon Valley Bank bankers led by David Sabow, who most recently led the technology and healthcare banking segment for the California-based bank that collapsed last month.

HSBC USA said in a statement the hiring will help the bank establish a dedicated banking practice focused on serving companies in technology and healthcare, as well as investors who support them.

HSBC has initially assembled a team of more than 40 bankers in the San Francisco Bay Area, Boston and New York City as part of this initiative, it said.

(Reporting by Saeed Azhar)